Iran's Araghchi holds talks with Oman on ending war and securing Hormuz

Iran's Foreign Minister Abbas Araghchi held talks in ‌Oman on Sunday and discussed security in the Strait of Hormuz and broader Gulf waters and diplomatic efforts to end the Iran-US conflict, Reuters reported on Sunday.

Araghchi said that the US military presence in the Middle East was fuelling insecurity and division and called for a regional security framework free of outside interference.

Iran's Foreign Minister further stated that regional countries must form collective security without US intervention.

Market reaction

At the time of writing, the West Texas Intermediate (WTI) is up 1.25% on the day at $94.30.